Truro Crown Court heard that the Cliffdene Hotel was “riddled with asbestos” when Stephens and Stephens Developers Ltd demolished it in 2020 to build flats.
Court recorder John Trevaskis said: “Clearly a number of people were exposed to the risk, including passers-by.”
Paul Stephens admitted a charge under the Health and Safety at Work act.
He was fined £37,234 and ordered by the court to pay a total of £92,129 including prosecution and remedial costs, and a victim surcharge.
The court told Stephens this must be paid within 12-months or he will face two years in prison.
Recorder Trevaskis said the offence was “partly driven by the cutting of corners” and the “improper treatment of highly dangerous products” created a significant risk of serious harm to people involved in the project.
